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Ladies and Gentlemen,
As we enter the fall season, business in our industry remains soft. Existing home sales last year were the lowest since 1995, and this year looks similar. Even so, we remain committed and determined to support your business with amazing service and strong new product introductions every season.
We design and develop all of our products, and manufacture in a number of countries: Indonesia, India, Vietnam, China, Malaysia, Cambodia, Portugal, and the U.S. Very soon, we will also be manufacturing in Thailand and the Philippines.
The tariff situation for each country is very fluid, and we are currently paying extra duties of 19% to 55%, other than what we produce in the U.S. Our U.S. production is also affected by tariffs on imported components such as chair swivels, certain fabrics, cushion materials, long length molding for art frames, etc. Production in India has been hit the hardest since spring, with tariffs rising from 10% to 50% now, plus an additional 50% tariff on steel and aluminum materials.
We can absorb a portion of these tariffs, but not all. Effective September 16, costs will increase 3.4% on average. Please click HERE to see our new price lists and price changes.
We know that this increase is not what anyone wants, but it is necessary for us to perform at the highest levels, maintain strong stock position in all three distribution centers, and continue to provide guaranteed satisfaction in both service and quality.
We are also updating our MAPP policy effective September 16, raising the multiple from 2.2 to 2.4 on volume wholesale. This adjustment will allow our customers to enjoy more margin, with little concern of online competition below a 2.4 multiple.
Please note that our MAPP policy applies to the Uttermost brand. Salt & Light has no MAPP requirement. REVELATION remains restricted from being sold online under all circumstances, consistent with our longstanding policy.
Our Designers and Product Development team will be in Asia much of September, finalizing our 2026 winter and spring introductions. Meanwhile, our showroom setup teams are busy preparing our High Point showrooms with a very strong fall launch. We hope to see you next month.
Thanks again for your business, we truly appreciate you.
Sincerely,
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